EUR/USD Price Analysis and Trade Forecast: Daily Trading Signal

Daily Price Outlook

- EUR/USD trading at $1.08864, down 0.07%, with a neutral to slightly bearish outlook.

- RSI at 42, indicating a slight bearish sentiment.

- Immediate support at $1.0861; key resistance at $1.0909.

The EUR/USD is currently trading at $1.08864, reflecting a modest decline of 0.07%. The 4-hour chart indicates critical levels that traders should monitor closely. The pivot point is set at $1.0920, serving as a key indicator for potential price movements.

Immediate resistance is identified at $1.0909, with subsequent resistance levels at $1.0928 and $1.0948. On the downside, immediate support is at $1.0861, followed by $1.0844 and $1.0825.

Technical indicators suggest a cautious sentiment in the market. The Relative Strength Index (RSI) stands at 42, indicating a slight bearish tilt but not yet in oversold territory. The 50-day Exponential Moving Average (EMA) is positioned at $1.0880, just below the current price, acting as a potential support level.

Given the technical setup, traders might consider placing a buy order above the 50-day EMA at $1.08805 to capitalize on potential upward momentum.

The suggested trade setup includes an entry price above $1.08805, a take profit target at $1.09199, and a stop loss at $1.08598. This strategy aims to leverage a rebound while maintaining a controlled risk profile.

EUR/USD - Trade Ideas

Entry Price – Buy Above 1.08805

Take Profit – 1.09199

Stop Loss – 1.08598

Risk to Reward – 1: 1.9

Profit & Loss Per Standard Lot = +$394/ -$207

Profit & Loss Per Mini Lot = +$39/ -$20